In this episode of Moody’s Talks – Emerging Markets Decoded, Christian de Guzman and Elisa Parisi-Capone from the Sovereign team join host Thaddeus Best to discuss how Russia’s military conflict with Ukraine is affecting Commonwealth of Independent States (CIS) sovereigns, as well as what stress tests on borrowing costs, exchange rates and capital flows tell us about the sovereigns most exposed to heightened risk aversion.

Related content on Moodys.com (some content only available to registered users or subscribers): 

• Sovereigns – Commonwealth of Independent States: Sharp recession in Russia poses immediate sustained risks to CIS credit quality
• Sovereigns – Global: Frontier, oil-importing MENA sovereigns are most exposed to an extended funding shock
• Emerging Markets – Global Russia-Ukraine shock amplifies pandemic-led credit deterioration for many sovereigns